Albany, NY (PRWEB) January 21, 2015
Global department store market is expected to reach a sizable net worth in the coming years. The major growth will be fueled by developing nations and their emerging economies. With a huge population base, these nations will drive the global department stores market to new highs with every passing year.
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The retail segments are evolving to the tune of growing economies in regions such as Asia Pacific and the Rest of the World. This is leading to construction of new department stores. Considering the tech-savvy consumers and the proliferating Internet penetration, most of the department stores are also venturing into online spaces to increase their sales and reach.
Global department stores now look at catering to myriad needs of their consumers which often leads them to storing items beyond regular shoes, apparels, cosmetics, home goods, and basic medicines amongst other things. An interesting strategy used by global department stores market is stocking up on international food items pertaining to specific cuisines to cater to their foreign customers. This method is truly making them grow as globalization continues to rise.
Amongst the geographical segmentation of global department stores, Asia Pacific dominates the market share in terms of sales, while North American constitutes as the biggest spender on the basis of per-capita.
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